Still, this is set at a 40% discount to Lee’s revalued net asset value (RNAV) of $15.01, compared to CDL’s reported $19.86 including revaluation surpluses of its investment properties and hotels.
Analysts have mostly raised their target price on City Developments (CDL) following the release of its business update for 3QFY2025 ended Sept 30.
Citi Research’s Brandon Lee has the highest target price among a handful of houses here, with a “buy” call and $9.01 estimate as at Nov 18.
